What are good strategies for trading binary options?

[Kaymu]

The best strategy, in fact the only way you have a chance with binaries, is to do the OPPOSITE of what they tell you to do, the opposite of what nearly everyone does.

Makes sense since binary option traders suck worse as a group than any other traders. They could lose money as an olympic sport. The binary options business is so lucrative that brokers will pay you a 35% commission on deposits for introducing a customer, and still make a lot of profit. In other words, its a scam. Unlike other forms of trading where the broker doesn’t make money if you lose, with binaries your broker makes, instead of a nominal commission, in most cases keeps your whole account.

Now assuming you have a broker that actually pays out if you win (there aren’t many, honestly, > 80% of brokers are just ripping you off and never paying out).

Here’s how to do it.

1. Everyone wants to have the 10 bagger win, buy the out of the money option for $15 and have it close at $100. DO THE OPPOSITE. Buy the option which is IN THE MONEY, about to close true. Experiment with the time to close, for 2 hour binary options about 30 mins is good.
2. Do a check of the upcoming announcements at Economic Calendar | FXStreet Don’t trade anything with an announcement before your binary closes.
3. Try and buy options you think will close true 90% of the time, for $75-$80. No more than $80 - this is your edge.
4. If your option becomes OUT OF THE MONEY, trades below the strike price, it becomes a coin flip and exit immediately. (note that binary options brokers don’t let you use stop losses since they want you to lose a lot not a little)
5. Keep accurate records and stop trading and start paper trading if your win rate drops below 80% for 5 consecutive trading days.

This is a strategy with a very small edge. If you take 10 trades a day you should make money most days, with big drawdowns. It is not suitable for big accounts, and not suitable for compounding into a big account. The only possible use is small and consistent income.

On the whole I do NOT recommend the binary options business. It is riddled with scammers, and has terrible hurdles to overcome. If you must play, however, this is the way.

Quick question. Has anyone tested the Trend Viper indicator yet? (Mt4trendindicator) The latest version looks quite good. I wonder if the Trend Power filter works..

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I researched so many brokers in the market. Every broker has some lacking. But finally I found TP Global FX, which has tight spreads, dynamic leverage and seamless deposit or withdrawals. It also provides the demo account facility for the newcomer to understand the market. For all these facilities I am working with this broker.

[maspluto]

the choice of broker must be able to be considered carefully, this is done so that traders can be more leverage in getting maximum trading security and comfort like what I got from Tickmill.

[Baz Dent]

Don’t hasten to learning and investing. Rather learn first and then invest. It’s not an easy process for a trader and I know that. They initially need support from everywhere.

[Uncle Gober]

The existing training and learning process must be able to run well, this is done so that traders can be more leverage in getting maximum trading security and comfort like what I got from Tickmill.

[Roly]

It's not an instant thing to run this forex trading, which has a big role in the existing risks. We must always improve our capabilities so that we can easily get maximum results with the Freshforex broker

[maspluto]

the funds and risks that exist must indeed be able to be considered properly, this is done so that traders can be more leverage in getting maximum trading security and comfort like what I got from Tickmill.